Celldex Therapeutics Inc (CLDX) News & EventsCLDXCelldex Therapeutics Inc

Celldex Reports Phase 2 Study Results for Barzolvolimab

Celldex reported topline results from the company's Phase 2 study of barzolvolimab delivered subcutaneously in prurigo nodularis, a chronic skin disease that causes hard, intensely itchy lumps/nodules to form on the skin. The primary endpoint of the study, the proportion of patients who achieve a four point or greater improvement in Worst Itch Numeric Rating Scale from baseline to Week 12, and key secondary endpoints were not met. The study did not meet primary or key secondary endpoints at Week 12 at either dose level evaluated. Percentage of patients with at least 4-point improvement in WI-NRS did not differentiate from placebo. Percentage of patients with Investigator's Global Assessment for Chronic Nodular Prurigo - Stage did not differentiate from placebo. No improvement observed with longer treatment. Barzolvolimab was well tolerated. Loading dose followed by dosing demonstrated favorable safety profile consistent with prior studies. Rapid and profound suppression of circulating tryptase, indicative of systemic mast cell depletion, was observed. The addition of the 450mg loading dose led to early, profound tryptase reduction that was sustained over the duration of the treatment period. This Phase 2 randomized, double-blind, placebo-controlled, parallel group study evaluated barzolvolimab compared to placebo in patients with moderate to severe PN who had inadequate response to prescription topical medications, or for whom topical medications were medically inadvisable. In total, 140 patients were randomly assigned to receive barzolvolimab 150mg after an initial loading dose of 450mg, 300mg after an initial loading dose of 450mg, or placebo during a 24-week treatment phase. Patients were then followed for an additional 16 weeks with no study treatment. The study enrolled patients at 48 centers across six countries, including the United States.

Celldex CFO Sam Martin to Retire in 2027

Celldex announced that Sam Martin, senior VP and CFO, has informed the company of his plans to retire in 2027. Martin has served as the company's CFO since 2017 and as a member of the Celldex finance team since April 2009. Celldex has initiated a search for a new CFO, and Martin will remain as the company's CFO through March of 2027.

Canaccord Analyst Says AbbVie's $10.9B Acquisition of Apogee Worth $144 per Share

Canaccord analyst Edward Nash says AbbVie's (ABBV) reported $10.9B takeover of Apogee Therapeutics (APGE) equates to roughly $144 per share. Apogee in premarket trading is up 50%, or $45.23, to $135.61. If an all-cash deal at $10.9B were to be announced and consummated, this would be a "huge win" for Apogee shareholders and for inflammation and immunology companies in general, the analyst tells investors in a research note. Canaccord sees Kymera Therapeutics (KYMR), Evommune (EVMN), Connect Biopharma (CNTB), Celldex (CLDX), and Nektar (NKTR) benefitting from a takeover of Apogee Therapeutics. The firm has a Buy rating on Apogee with a $130 price target.